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The global microwave oven market is expected to grow at a CAGR of 4.7% during the forecast period 2022-2027.
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The global microwave oven market is expected to be driven by advancements in technology, demand for smart kitchen and related appliances, increased disposable incomes, and consumers’ desire for higher standards of living, ease of performing tasks in the kitchen, and multi-tasking. According to analysts, rapid technological advancements and competitive prices drive the buying of electronic and electrical devices in Europe. Also, consumers have a tendency to purchase new devices before present appliances serve their useful lives; this suggests that such items are seen as status symbols or indicators of higher standards of living.
Companies are investing heavily to develop advanced, sophisticated and efficient appliances. Panasonic’s new Smart Inverter Countertop Microwave Oven, that can be activated through Alexa, is a good example. While similar microwaves exist in the market, this is the first such product by Panasonic. Panasonic announced the product at CES 2022 in Las Vegas in the first week of January 2022, along with many other new products, including its new compact oven. With Panasonic’s new Smart Inverter Countertop Microwave Oven, consumers would not need to “guess” suitable microwave settings. Further, the product seeks to optimize convenience when performing multiple chores in the kitchen; it understands more than 100 common commands. The product enables quick movement in the kitchen, especially when there is a lot of preparation to do. This smart microwave oven also has convenient manual controls, including dedicated Popcorn, Turbo Defrost, and Quick 30 buttons for quick access. Further, its Genius Sensor technology monitors a food item’s humidity level, and offers features to defrost, cook, or rewarm meals swiftly and evenly.
Samsung, seeking to offer further personalized product experiences, announced more customization alternatives for its Bespoke line-up of domestic appliances, including over-the-range microwaves among Samsung's Family Hub and French 3-door and 4-door refrigerators, dishwashers and ranges.
Such products with modern features are an indicator of consumers’ desire for innovative home appliances and willingness to spend on modern, sophisticated gadgets that make accomplishment of daily tasks easy and efficient. Such demand and supply of technologically advanced devices are likely to boost market growth.
China, Germany, Malaysia, Thailand and the UK are significant exporters of microwave ovens. In 2019, microwave oven exports of these nations stood as follows: China (over $2.94B), Malaysia (over $422M), Thailand (over $185M), Germany (over $120M), and United Kingdom (over $110M). In the same year, the most significant importers of microwave ovens were: USA (over $1.30B), Japan (over $361M), Germany (over $226M), UK (OVER $210M) and Russia (over $200M).
Of all ovens, microwaves represent the greatest sales percentage in the European Union (EU).
In a microwave oven, an electron tube (magnetron) produces microwaves which are reflected within the inside of the oven (made of metal) and absorbed by food. These microwaves cause molecules of water present in the food to vibrate, which produces heat that cooks the food item. Thus, foods with higher water content (such as fresh vegetables) cook more quickly in a microwave oven. Microwave cooked foods retain more nutrients because foods cooked in microwave ovens do not require additional water for cooking.
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By product, the market is segmented into:
By application, the market is classified into:
By structure, the market is classified as follows:
By region, the market is segmented into:
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The report presents a detailed analysis of the following key players in the market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Application, Structure, Region|
|Breakup by Product||Convection, Grill, Solo|
|Breakup by Application||Commercial, Household|
|Breakup by Structure||Built-In, Countertop|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Haier Group Corporation, Electrolux AB, Panasonic Corporation, Robert Bosch GmbH, Whirlpool Corporation, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Global Microwave Oven Market Analysis
8.1 Key Industry Highlights
8.2 Global Microwave Oven Historical Market (2017-2021)
8.3 Global Microwave Oven Market Forecast (2022-2027)
8.4 Global Microwave Oven Market by Product
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.5 Global Microwave Oven Market by Application
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.6 Global Microwave Oven Market by Structure
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.7 Global Microwave Oven Market by Region
8.7.1 Market Share
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
18.104.22.168 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
22.214.171.124 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Haier Group Corporation
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12.2.2 Electrolux AB
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12.2.3 Panasonic Corporation
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12.2.4 Robert Bosch GmbH
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12.2.5 Whirlpool Corporation
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Microwave Oven Market: Key Industry Highlights, 2017 and 2027
2. Global Microwave Oven Historical Market: Breakup by Product (USD Million), 2017-2021
3. Global Microwave Oven Market Forecast: Breakup by Product (USD Million), 2022-2027
4. Global Microwave Oven Historical Market: Breakup by Application (USD Million), 2017-2021
5. Global Microwave Oven Market Forecast: Breakup by Application (USD Million), 2022-2027
6. Global Microwave Oven Historical Market: Breakup by Structure (USD Million), 2017-2021
7. Global Microwave Oven Market Forecast: Breakup by Structure (USD Million), 2022-2027
8. Global Microwave Oven Historical Market: Breakup by Region (USD Million), 2017-2021
9. Global Microwave Oven Market Forecast: Breakup by Region (USD Million), 2022-2027
10. North America Microwave Oven Historical Market: Breakup by Country (USD Million), 2017-2021
11. North America Microwave Oven Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Europe Microwave Oven Historical Market: Breakup by Country (USD Million), 2017-2021
13. Europe Microwave Oven Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Asia Pacific Microwave Oven Historical Market: Breakup by Country (USD Million), 2017-2021
15. Asia Pacific Microwave Oven Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Latin America Microwave Oven Historical Market: Breakup by Country (USD Million), 2017-2021
17. Latin America Microwave Oven Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Middle East and Africa Microwave Oven Historical Market: Breakup by Country (USD Million), 2017-2021
19. Middle East and Africa Microwave Oven Market Forecast: Breakup by Country (USD Million), 2022-2027
20. Global Microwave Oven Market Structure
The market is estimated to grow at a CAGR of 4.7% between 2022 and 2027.
The major drivers of the market include the growing demand for smart kitchen appliances owing to the rising disposable income and increasing standards of living, expansion of major home care appliance manufacturers, and the thriving e-retail sector.
The emerging e-commerce sector, coupled with the rising purchasing power of the consumers is expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Convection, grill, and solo are the different products based on which the market has been segmented.
Commercial and household are the different applications of the product.
Built-in and countertop are the different structures of the product.
The major players in the industry are Haier Group Corporation, Electrolux AB, Panasonic Corporation, Robert Bosch GmbH, and Whirlpool Corporation, among others.
The global microwave oven market is being driven by the increasing demand for microwave oven from the household sector owing to the rising disposable income. Aided by the technological advancements in the smart home appliances sector, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 4.7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product, the market is divided into convection, grill, and solo. The significant applications of the product include commercial and household. On the basis of structure, the market has been bifurcated into built-in and countertop. The major regional markets for microwave oven are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Haier Group Corporation, Electrolux AB, Panasonic Corporation, Robert Bosch GmbH, and Whirlpool Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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